The high court in Johannesburg has granted Vedanta Resources an order blocking the liquidation of its Zambia-based Konkola Copper Mines (KCM) company, amid a growing dispute with the government in Lusaka.
The Zambian Government says Chinese enterprise Sinohydro Corporation is expected to complete the construction of the 750-megawatt Kafue Gorge Lower Hydro-power Station next year, a senior Government official has said.
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President Edgar Lungu says his government will continue to devise necessary and conducive conditions for the private sector to flourish. President Lungu noted that supporting the private sector in the journey towards expansion, will in turn lead to the development of the entire country.
The respected Africa Confidential has revealed that talks are underway for a Chinese company to takeover power utility ZESCO. And Africa Confidential has warned that Zambia risks losing its sovereignty to China as that country will seize national assets once government defaults on loans.
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The Hilton hotel has opened the newly refurbished development Society Business Park on Cairo road in Lusaka, Zambia. The 20-floor mixed-use park, which also houses Hilton Garden Inn, was part of a public-private partnership agreement between Zambia National Building Society (ZNBS) and the National Pension Scheme Authority (NAPSA) in 2011.
The World Bank is set to unlock $600 million for an infrastructure project to facilitate trade in East and Central Africa and provide an alternative route to the sea for Burundi, Tanzania, Zambia and the Democratic Republic of Congo.